Opening of Dyesol-Timo Pilot Production Plant in Korea to Manufacture Dye Solar Cells

Dyesol

Dyesol-Timo, Dyesol’s Korean Joint Venture, officially opened its pilot production plant for manufacture of glass-based dye solar cell (DSC) products in Seong Nam, South Korea on 13th July.

The JV was applauded by Australia’s Ambassador to Korea, Mr Sam Gerovich as an exciting new chapter in the Australia-Korea economic relationship, as we embark on a partnership in new, clean energy technologies.

The Technology – DYE SOLAR CELLS

DSC technology can best be described as ‘artificial photosynthesis’ using a layer of nanoparticulate titania (a pigment used in white paints and tooth paste) coated with a dye and filled with an electrolyte deposited on glass, metal or polymer substrates. Light striking the dye excites electrons which are absorbed by the titania to become an electric current many times stronger than that found in natural photosynthesis in plants. Compared to conventional silicon based photovoltaic technology, Dyesol’s technology has lower cost and embodied energy in manufacture, it produces electricity more efficiently in normal light conditions and can be directly incorporated into buildings by replacing conventional glass panels or metal sheets rather than taking up roof or extra land area.

Dyesol signed a JV agreement with Timo Technologies in September 2008 and within 10 months completed the construction and commissioning of this world class pilot production plant. The pilot facility is based on a series of proprietary process, assembly and test equipment developed and provided by Dyesol. The JV to date has received considerable support from both the Gyeonggi provincial government and the Korean Government, and will continue to liaise closely with Government as it moves to volume manufacturing.

The ultimate objective of the JV is to move to commercial mass production of glass-based DSC products in Korea, where the solar conditions, dense urban cityscapes and rapid adoption of new technology provides an ideal environment for various DSC applications. With JP Morgan’s 2008 report predicting South Korea as one of the fastest growing solar markets over the next four years, this progress puts Dyesol-Timo in a strong position to grow with the industry.

The pilot production plant will accelerate product development, testing and quality control systems – all necessary precursors to volume production. It will also allow test bedding applications and DSC demonstration projects to be undertaken in a number of selected locations. Product will also be available to help seed the market in Korea and the region. Dyesol is the exclusive supplier of DSC materials to the JV and the value of this material supply will grow significantly as the venture moves to volume manufacturing.

Speaking today at the official opening of the DSC pilot production line, Ambassador Gerovich said the Dyesol-Timo JV is “the absolute leading edge of solar technology in the world.

Dye solar cells have the potential to find applications where existing solar cells could never be effectively employed, in areas with low light conditions, such as in built up areas of cities and even indoors.

This special characteristic will open up a whole range of new applications and opportunities for solar energy, and Dyesol-Timo will be ahead of the pack.

This comes just after the announcement by the Korean Government of their plans to invest 107 trillion won (US$84.5 billion, 2% of annual GDP) in environment-related industries over the coming five years.

Timo Technology

Timo Technology was established in 1996. With 128 employees, and a turnover of over $60 million, its shares are listed on KOSDAQ. Timo commenced a renewables business focused on dye solar cell technology in 2007.

More details about Timo Technology can be found at: http://www.timo.co.kr

The Company – DYESOL Limited

Dyesol is located in Queanbeyan NSW (near Canberra) and in August 2005 was listed on the Australian Stock Exchange (ASX Code ‘DYE”). Dyesol manufactures and supplies a range of dye solar cell products comprising equipment, chemicals, materials, components and related services to researchers and manufacturers of DSC. Dyesol has subsidiaries in UK, Italy, Switzerland, USA, Korea and Singapore plus representatives and agents in Turkey, Germany, Abu Dhabi, Malaysia, Taiwan and Japan. The Company is playing a key role in taking this third generation solar technology from development into commercial production.